Co-owner Shelly Sterling had received permission to sell the team after her husband Donald Sterling was banned for life by the NBA and fined $2.5 million after a private recording surfaced in which Sterling was heard making racist remarks.

The NBA Board of Governors is set to vote on June 3 to terminate Sterling's ownership in the team so it can be sold.

Last year, Ballmer, 58, and Seattle investor Chris Hansen attempted to buy the Sacramento Kings from the Maloof family and move them to Seattle. Those attempts were unsuccessful and the team remained in Sacramento. Ballmer, who is worth around $20 billion, retired from Microsoft in February.

It is still early in the bidding process for the Clippers and it is quite possible that the price could go higher, especially if interested parties join forces to buy the team. Still, I must tip my hat to Bill Simmons, who predicted at the end of April that the basketball team would fetch $1.75 billion. Donald Sterling bought the Clippers in June, 1981 for $12.5 million.